Technical Analysis / Page 309

Technical Analysis – GBPJPY’s guiding forces fade but bearish bias lingers

Posted on December 8, 2021 at 2:43 pm GMT

GBPJPY is trading around the mid-Bollinger band at 150.23, curbed by the 50-period simple moving average (SMA), which continues to hamper advances even after the bounce from around the 149.00 mark. The falling SMAs continue to endorse the pair’s negative trajectory that recently softened on its approach towards key support bands, which are forming a congested base for the broader uptrend. Currently, the short-term oscillators are not indicating a definitive direction in the pair. The MACD and its red trigger [..]

Technical Analysis – Gold recovers ground after bouncing at 1,761

Posted on December 8, 2021 at 11:03 am GMT

Gold prices are flirting with the Ichimoku cloud in the near-term after the positive move that started in the previous week from 1,761. According to the technical indicators, the RSI is heading south in the positive region, while the MACD is trying to hold in the bullish area. The 20- and 40-period simple moving averages (SMAs) are ready to post a bullish crossover and the 200-period SMA is flattening. If the price continues the upside structure, the next crucial level [..]

Technical Analysis – NZDUSD bounces off 76.4% Fibonacci but negative bias prevails

Posted on December 8, 2021 at 9:23 am GMT

NZDUSD buyers have emerged around the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until the 0.7464 peak. That said, it appears that they are incapable of terminating the one-month decline from the 0.7217 high. The dipping simple moving averages (SMAs) are starting to confirm a growing downward trend in the pair. The short-term oscillators are reflecting a slight increase in bullish momentum, but given the current overwhelming downward pressures, it looks unlikely that [..]

Technical Analysis – USDJPY moves sideways within SMAs and 112.70

Posted on December 8, 2021 at 8:42 am GMT

USDJPY has found strong support level at 112.70 over the last few days, remaining below the flat 20- and 40-day simple moving averages (SMAs). However, the pair is moving sideways within this range and is confirmed from the technical indicators as well. The MACD is moving sideways below zero level, while the RSI is flattening near its neutral threshold of 50. In the case of a break beyond the short-term SMAs, the next stop could come from the almost five-year [..]

Technical Analysis – EURGBP crosses above its 50-SMA, yet outlook remains bearish

Posted on December 8, 2021 at 8:40 am GMT

EURGBP came back swinging from its November lows, surpassing its 50-day simple moving average (SMA). However, despite the immediate-term positivity, the price is currently trading below its 200-day SMA and has recorded three consecutive lower lows, reflecting a cautiously bearish outlook. Short-term momentum indicators are supporting a positive bias for the pair as the RSI is found above its 50 neutral mark, while the MACD is located above zero and its red signal line. Should the price cross below its [..]

Technical Analysis – EURAUD retreats after its rebound falters, bias negative

Posted on December 8, 2021 at 8:34 am GMT

EURAUD has staged a moderate rebound after its sharp downfall halted at the double bottom of 1.5355. However, in the last couple of sessions the pair has been giving up ground after its positive momentum failed to strengthen. The recent downside correction is likely to resume as the near-term bias looks bearish, with momentum indicators further endorsing this view. The stochastic oscillator is sloping downwards, while the RSI has flatlined marginally above its 50-neutral mark following a steep dip from [..]

Technical Analysis – WTI futures recover lost ground; buyers gain confidence

Posted on December 7, 2021 at 4:12 pm GMT

WTI oil futures are piloting higher past the 50-period simple moving average (SMA) and the Ichimoku cloud. The recent strong rally, which began on December 3 off the 65.59 level, is extending the upside reversal from a 14-week low of 62.42 with the rising Ichimoku lines indicating that bullish forces are potent. The SMAs continue to fall, promoting the broader negative picture but have yet to reflect the recent buoyancy in the commodity. The short-term oscillators are favouring the upside. [..]

Technical Analysis – EURJPY improves from 9½-month low, but negative risks remain

Posted on December 7, 2021 at 9:29 am GMT

EURJPY is struggling to progress past the falling red Tenkan-sen line at 128.44 after rebounding from around the 127.37 level, in the wake of a seven-week decline from the 133.47 peak. The entangled simple moving averages (SMAs) are currently not revealing a reliable trend in the pair. That said, the Ichimoku lines are indicating that negative forces are taking a breather, while the short-term oscillators are suggesting positive powers are growing. The MACD, far beneath the zero mark, is preparing [..]

Technical Analysis – EURCHF posts yet more lower lows; overall outlook bearish

Posted on December 7, 2021 at 9:19 am GMT

EURCHF is currently trading below its 200-period simple moving average (SMA), which together with the pair’s successive lower lows reflect an overall bearish outlook. However, the near-term sentiment appears to be cautiously positive as the price has recently crossed above its 50-period SMA, breaking a series of successive lower highs. Short-term momentum indicators are supporting a positive bias for the pair as the RSI is found above its 50 neutral mark, while the MACD is located above zero and its [..]

Technical Analysis – USDJPY moves sideways after sharp decline; bias positive

Posted on December 7, 2021 at 9:14 am GMT

USDJPY experienced a vast sell-off after the price peaked at the 4½-year high of 115.51. Since then, the pair has been moving without a clear direction, but the recent cross above the 50-day simple moving average (SMA) suggests that bullish forces have gained the upper hand. This near-term positive momentum is also reinforced by the momentum indicators. The MACD is currently found above both zero and its red signal line, while the stochastic oscillator is pointing upwards in the overbought [..]

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